Bulletin: NEP/NCP Holdco Inc. Ratings Unaffected By Proposed Credit Agreement Amendment And Debt Add-On

NEW YORK (S&P Global Ratings) June 14, 2017--S&P Global Ratings said today that its ratings and outlook on Pittsburgh-based entertainment production company and service provider NEP/NCP Holdco Inc. (NEP; B/Stable/--) are not affected by the company's announcement that it is amending its credit agreement to increase its U.S. dollar- and euro-denominated first-lien term loans by a total of US$50 million. The company plans to use the proceeds to repay $50 million of the U.S. dollar-denominated second-lien term loan (the outstanding balance is $105 million). As part of the credit agreement amendment, NEP also plans to upsize its U.S. dollar-denominated revolver credit facility by $36.3 million to $141.3 million. The amendment also extends the maturity of its U.S. dollar-denominated credit facility:

...NEW YORK (S&P Global Ratings) June 14, 2017--S&P Global Ratings said today that its ratings and outlook on Pittsburgh-based entertainment production company and service provider NEP/NCP Holdco Inc. (NEP; B/Stable/--) are not affected by the company's announcement that it is amending its credit agreement to increase its U.S. dollar- and euro-denominated first-lien term loans by a total of US$50 million. The company plans to use the proceeds to repay $50 million of the U.S. dollar-denominated second-lien term loan (the outstanding balance is $105 million). As part of the credit agreement amendment, NEP also plans to upsize its U.S. dollar-denominated revolver credit facility by $36.3 million to $141.3 million. The amendment also extends the maturity of its U.S. dollar-denominated credit facility: the first-lien term loan to July 2022 from January 2020, the second-lien term loan to January 2023 from June 2020, and the revolving credit facility to January 2022 from January 2018. The unaffected...

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